They just want a spot to play video games and get drunk 

"Unlock the Game", by Arie Galper.

you'll have to figure out what's important to you (what types of properties, price point, how to finance (salary/traditional?)

I wanted to play a quick game with everyone.

The two common choices for doing so are the self-directed IRA and the Solo 401k.The Solo 401k requires self-employment activity, but will allow you to take participant loans while the IRA does not.A few other Solo 401k benefits:Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)With either structure, it's generally recommended that you do not commingle retirement and non-retirement assets.

I looked at a duplex in Denver a few weeks ago that had structural issues and even though it had been on and off the market for 6 months and they had come off original asking price considerably, it still did not make sense unless you could get it 20% under current ask or unless you had a GC that was a whizz at foundation repair.Consider looking at non-traditional MF, i.e.

The options might be a cash or traditional financing offer 15-20% below market value or full asking price, but your terms (which may include seller financing with discounted or delayed initial payments, etc.).  

A refinance will allow you to know exactly how much money you'll be getting for the mortgage (traditional mortgage may have a lender decide the property you want to buy is not worth it and they will not give you as much as you had been preapproved for), and it gives you a much stronger offer in a sellers market.Being able to make an offer subject free can usually beat out any other offer with subjects and can also give you leverage in negotiations during a hot market.

Hey guys,Super-new to the forums (just joined BP Pro) and super-new to the real estate game (looking to buy my first property).

Traditional loans are out of the question for us right now.